Articles and Advice

Should You Take Your Home Off The Market?

If your home isn't selling, you may have to ask some tough questions. Here's what to consider if you want to take your home off the market.

Wondering if it's time to reconsider your home listing?

As the seller, you have the power to take your property off the market anytime. You'll be able to start over again whenever the timing is right for you.

In general, you should aim to sell your home within 30 days of listing. Your real estate agent will work around the clock to promote your home to the right buyers. But for whatever reason, you might find your home hasn't attracted enough attention in 60 or even 90 days. This is the most common scenario when buyers choose to start over at a later date.

The longer a home is listed, the more likely buyers will think something is wrong with it! That said, there are other reasons you might withdraw your listing. Pulling a listing now doesn't mean you'll have a more difficult time selling later. In fact, giving yourself a few months to reassess can help you sell at a higher price.

If any of these apply to you, it might be wise to take your home off the market:

Your Financial Circumstances Change
As the seller, you usually don't end up paying closing costs. Still, moving can be disruptive, and there are always some out-of-pocket expenses. If you were laid off or have reduced hours, you might want to rethink your listing, especially if financing for your next home isn't locked in. Emergency expenses, like fixing your car, should often take priority over moving if your plans are flexible.
You're Getting Disappointing Offers
One of the most important services a real estate agent offers is the ability to price your home to sell. Pricing a home is a scientific process that involves crunching numbers from recent local sales. While this goes a long way to selling, market conditions always factor in. Especially in a hot "seller's market," you might decide you don't want to settle for less than what your home is really worth.
Home Inspection Turns Up a Problem
Most buyers are turned off by "as-is" listings, which make them suspicious. Likewise, the majority of buyers will insist on a complete home inspection. Standard mortgage loans now require a recent inspection report on file. Electrical and plumbing problems are the issues most likely to chase buyers away. If you discover these or other woes, you can save time by de-listing and focusing on fixes.
Your Home Isn't on Trend
Remember, buyers also use real estate agents. To represent a buyer's interests, their agent will usually show them several similar homes that meet their needs. If yours is the only one without a brand new kitchen, for example, you'll be at a disadvantage compared to the rest. By pulling your listing, you have more time to decide what upgrades fit into your budget and are most likely to provide a return on investment.
You Simply Decide Not to Sell
Selling your home is a big decision. The changes ripple through every aspect of your life. Sometimes, you may not know how you really feel about selling until the process has already kicked off. Odds are good that you have a few weeks to mull it over — but you have to jump in before you contract with a buyer. When it simply doesn't feel right, many sellers ultimately go with their gut.

Whatever your situation, you can get the best advice from a trusted real estate agent. Your agent is an ally who'll listen to your concerns and help you chart the right path, whether that's a big sale now or a re-list later.

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Should You Take Your Home Off The Market?

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